DRB-Hicom raises sales target for Proton cars (1619)

KUALA LUMPUR: In a bid to establish Proton Holdings Bhd as the number
one car maker in terms of sales this year, DRB-Hicom Bhd has raised the
local sales target for the national car maker to 200,000 units for the
current financial year ending March 31, 2013.

DRB-Hicom Managing
Director, Datuk Seri Mohd Khamil Jamil said the conglomerate, which
acquired Proton from Khazanah Nasional Bhd in January this year,
believed that Proton has the ability to overtake the current leader,
Perusahaan Otomobil Kedua Sdn Bhd (Perodua).

Mohd Khamil said prior to the takeover, Proton had an initial target of 167,000 units for the current fiscal year.

"To-date, we have done about 100,000 cars. I am pretty sure about the target. Proton has a lot of unlocked potential.

"The
main challenge to meet the target will be the revised lending
guidelines by Bank Negara Malaysia. But we believe in the current
models that we have," he told reporters after the company's Annual
General Meeting, here today.

Mohd Khamil said DRB-Hicom aspires to establish Proton not only as an affordable car, but an international car.

"Nobody
should buy Proton because it's cheap. The DNA of Proton must be
changed. That is why we are raising the standards of the car. Proton
aspires to increase quality while keeping cost down," he added.

He
also said DRB-Hicom has in place several plans for the national car
maker, which among all are to strengthen its domestic operations,
rationalising its downstream and upstream businesses, building greater
brand awareness, as well as unlocking its true value.

On
Proton's loss-making sports car unit, Lotus, Mohd Khamil said DRB-Hicom
has completed the operational review of the British sports car maker,
and the conglomerate has laid out an immediate plans for Lotus.

"It
will be far different from the plans that Lotus had before. The new
plan will ensure Lotus will sustain for the next three years.

"We
have to now present the plans to the bankers. We are hoping to finalise
negotations with the bankers by the end of this year," he added.
-- BERNAMA